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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cablevision Systems Corp. Class A | NYSE:CVC | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 34.87 | 0.00 | 01:00:00 |
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ý
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the quarterly period ended
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March 31, 2016
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from
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to
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Commission File Number
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Registrant; State of Incorporation; Address and Telephone Number
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IRS Employer Identification No.
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1-14764
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Cablevision Systems Corporation
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11-3415180
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Delaware
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1111 Stewart Avenue
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Bethpage, New York 11714
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(516) 803-2300
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1-9046
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CSC Holdings, LLC
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27-0726696
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Delaware
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1111 Stewart Avenue
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Bethpage, New York 11714
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(516) 803-2300
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Cablevision Systems Corporation
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Yes
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ý
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No
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o
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CSC Holdings, LLC
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Yes
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ý
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No
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o
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Large accelerated
filer
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Accelerated
filer
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Non-accelerated
filer
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Smaller Reporting Company
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Cablevision Systems Corporation
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Yes
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ý
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No
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o
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Yes
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o
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No
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ý
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Yes
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o
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No
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ý
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Yes
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o
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No
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ý
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CSC Holdings, LLC
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Yes
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o
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No
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ý
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Yes
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o
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No
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ý
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Yes
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ý
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No
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o
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Yes
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o
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No
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ý
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Cablevision Systems Corporation
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Yes
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o
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No
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ý
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CSC Holdings, LLC
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Yes
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o
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No
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ý
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Cablevision NY Group Class A Common Stock -
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222,188,952
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Cablevision NY Group Class B Common Stock -
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54,137,673
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CSC Holdings, LLC Interests of Member -
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17,631,479
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Page
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PART I.
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FINANCIAL INFORMATION
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Item 1.
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Financial Statements of Cablevision Systems Corporation and Subsidiaries
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Financial Statements of CSC Holdings, LLC and Subsidiaries
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Item 2.
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Item 3.
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Item 4.
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PART II.
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OTHER INFORMATION
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Item 1.
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Item 2.
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Item 6.
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PART I.
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FINANCIAL INFORMATION
|
•
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the level of our revenues;
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•
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competition for subscribers from existing competitors (such as telephone companies, direct broadcast satellite ("DBS") distributors, and Internet-based providers) and new competitors entering our franchise areas;
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•
|
demand for our video, high-speed data and voice services, which is impacted by competition from other services and changes in technology and consumer expectations and behavior;
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•
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the level of our expenses, including the cost of programming;
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•
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the level of our capital expenditures;
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•
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changes in the laws or regulations under which we operate;
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•
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general economic conditions in the areas in which we operate;
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•
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the state of the market for debt securities and bank loans;
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•
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demand for advertising in our newspapers along with subscriber and single copy outlet sales demand for our newspapers;
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•
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market demand for new services;
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•
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demand for advertising on our cable television systems;
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•
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industry conditions;
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•
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the outcome of litigation and other proceedings, including the matters described in Note 12 of the combined notes to our condensed consolidated financial statements;
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•
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future acquisitions and dispositions of assets;
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•
|
the tax-free treatment of the MSG Distribution (whereby Cablevision distributed to its stockholders all of the outstanding common stock of The Madison Square Garden Company) and the AMC Networks Distribution (whereby Cablevision distributed to its stockholders all of the outstanding common stock of AMC Networks Inc.);
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•
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whether pending uncompleted transactions, if any, are completed on the terms and at the times set forth (if at all);
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•
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other risks and uncertainties inherent in our cable and other telecommunications services businesses, our newspaper publishing business, and our other businesses;
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•
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financial community and rating agency perceptions of our business, operations, financial condition and the industries in which we operate;
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•
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the expected timing and likelihood of consummation of the pending Merger (as defined herein), including the timing, receipt and terms and conditions of any required governmental approvals; the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement (as defined herein); the risk that the parties may not be able to satisfy the conditions to the proposed Merger in a timely manner or at all; risks related to the disruption of management’s time from ongoing business operations due to the proposed Merger; the risk that any announcements relating to the proposed Merger could have adverse effects on the price of Cablevision's shares of common stock and our debt securities; and the risk that the proposed Merger and its announcement could have an adverse effect on our ability to retain and hire key personnel and maintain relationships with our suppliers and customers, and on our operating results and businesses generally; and
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•
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the factors described in our filings with the Securities and Exchange Commission, including under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein.
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Item 1.
|
Financial Statements
|
CABLEVISION SYSTEMS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
|
|||||||
|
March 31, 2016
|
|
December 31, 2015
|
||||
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(Unaudited)
|
|
|
||||
ASSETS
|
|
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|
||||
Current Assets:
|
|
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|
||||
Cash and cash equivalents
|
$
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933,457
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$
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1,003,279
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Accounts receivable, trade (less allowance for doubtful accounts of $5,604 and $6,039)
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260,979
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266,383
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Prepaid expenses and other current assets
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144,007
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124,842
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Amounts due from affiliates
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2,066
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|
767
|
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Deferred tax asset
|
—
|
|
|
14,596
|
|
||
Investment securities pledged as collateral
|
489,045
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455,386
|
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||
Derivative contracts
|
7,307
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|
|
10,333
|
|
||
Total current assets
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1,836,861
|
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1,875,586
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|
||
Property, plant and equipment, net of accumulated depreciation of $9,559,157 and $9,625,348
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2,957,893
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3,017,015
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Investment securities pledged as collateral
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822,808
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756,596
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Derivative contracts
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31,461
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|
|
72,075
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Other assets
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39,631
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|
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32,920
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Amortizable intangible assets, net of accumulated amortization of $62,045 and $60,310
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35,481
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36,951
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Indefinite-lived cable television franchises
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731,848
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731,848
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Trademarks and other indefinite-lived intangible assets
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7,250
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7,250
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Goodwill
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262,345
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262,345
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Deferred financing costs, net of accumulated amortization of $8,930 and $8,150
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6,808
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|
7,588
|
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||
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$
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6,732,386
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$
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6,800,174
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CABLEVISION SYSTEMS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (Cont'd)
(In thousands, except share amounts)
(Unaudited)
|
|||||||
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March 31, 2016
|
|
December 31, 2015
|
||||
|
(Unaudited)
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|
||||
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
|
|
|
|
||||
Current Liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
452,984
|
|
|
$
|
453,653
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Accrued liabilities
|
479,383
|
|
|
632,995
|
|
||
Amounts due to affiliates
|
30,129
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|
|
29,729
|
|
||
Deferred tax liability
|
23,674
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|
|
—
|
|
||
Deferred revenue
|
63,246
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|
|
55,545
|
|
||
Liabilities under derivative contracts
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7,078
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2,706
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Credit facility debt
|
575,150
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562,898
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Collateralized indebtedness
|
433,014
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416,621
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|
||
Capital lease obligations
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19,185
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20,350
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Notes payable
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10,170
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|
|
13,267
|
|
||
Total current liabilities
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2,094,013
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|
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2,187,764
|
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||
Deferred revenue
|
4,026
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|
|
4,244
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|
||
Other liabilities
|
228,726
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|
260,752
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|
||
Deferred tax liability
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727,947
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|
|
704,835
|
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||
Credit facility debt
|
1,925,303
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1,951,556
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|
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Collateralized indebtedness
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758,310
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774,703
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|
||
Capital lease obligations
|
21,547
|
|
|
25,616
|
|
||
Notes payable
|
—
|
|
|
1,277
|
|
||
Senior notes and debentures
|
5,805,397
|
|
|
5,801,011
|
|
||
Total liabilities
|
11,565,269
|
|
|
11,711,758
|
|
||
Commitments and contingencies
|
|
|
|
|
|
||
Stockholders' Deficiency:
|
|
|
|
|
|
||
Preferred Stock, $.01 par value, 50,000,000 shares authorized, none issued
|
—
|
|
|
—
|
|
||
CNYG Class A common stock, $.01 par value, 800,000,000 shares authorized, 305,148,220 and 304,196,703 shares issued and 222,188,952 and 222,572,210 shares outstanding
|
3,051
|
|
|
3,042
|
|
||
CNYG Class B common stock, $.01 par value, 320,000,000 shares authorized, 54,137,673 shares issued and outstanding
|
541
|
|
|
541
|
|
||
RMG Class A common stock, $.01 par value, 600,000,000 shares authorized, none issued
|
—
|
|
|
—
|
|
||
RMG Class B common stock, $.01 par value, 160,000,000 shares authorized, none issued
|
—
|
|
|
—
|
|
||
Paid-in capital
|
821,112
|
|
|
792,351
|
|
||
Accumulated deficit
|
(3,965,034
|
)
|
|
(4,059,411
|
)
|
||
|
(3,140,330
|
)
|
|
(3,263,477
|
)
|
||
Treasury stock, at cost (82,959,268 and 81,624,493 CNYG Class A common shares)
|
(1,651,637
|
)
|
|
(1,610,167
|
)
|
||
Accumulated other comprehensive loss
|
(40,582
|
)
|
|
(37,672
|
)
|
||
Total stockholders' deficiency
|
(4,832,549
|
)
|
|
(4,911,316
|
)
|
||
Noncontrolling interest
|
(334
|
)
|
|
(268
|
)
|
||
Total deficiency
|
(4,832,883
|
)
|
|
(4,911,584
|
)
|
||
|
$
|
6,732,386
|
|
|
$
|
6,800,174
|
|
CABLEVISION SYSTEMS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts)
(Unaudited)
|
|||||||
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
Revenues, net (including revenues, net from affiliates of $1,139 and $1,191, respectively) (See Note 14)
|
$
|
1,640,757
|
|
|
$
|
1,614,771
|
|
Operating expenses:
|
|
|
|
|
|
||
Technical and operating (excluding depreciation and amortization and including net charges from affiliates of $44,892 and $44,937, respectively) (See Note 14)
|
810,961
|
|
|
795,888
|
|
||
Selling, general and administrative (including net charges from affiliates of $1,942 and $1,928, respectively) (See Note 14)
|
365,051
|
|
|
376,764
|
|
||
Restructuring expense (credits)
|
1,037
|
|
|
(532
|
)
|
||
Depreciation and amortization
|
212,453
|
|
|
218,900
|
|
||
|
1,389,502
|
|
|
1,391,020
|
|
||
Operating income
|
251,255
|
|
|
223,751
|
|
||
Other income (expense):
|
|
|
|
|
|
||
Interest expense, net
|
(148,482
|
)
|
|
(145,012
|
)
|
||
Gain (loss) on investments, net
|
100,365
|
|
|
(33,071
|
)
|
||
Gain (loss) on equity derivative contracts, net
|
(48,012
|
)
|
|
46,166
|
|
||
Miscellaneous, net
|
1,971
|
|
|
1,007
|
|
||
|
(94,158
|
)
|
|
(130,910
|
)
|
||
Income from continuing operations before income taxes
|
157,097
|
|
|
92,841
|
|
||
Income tax expense
|
(62,786
|
)
|
|
(37,940
|
)
|
||
Income from continuing operations, net of income taxes
|
94,311
|
|
|
54,901
|
|
||
Loss from discontinued operations, net of income taxes
|
—
|
|
|
(10,502
|
)
|
||
Net income
|
94,311
|
|
|
44,399
|
|
||
Net loss attributable to noncontrolling interests
|
66
|
|
|
234
|
|
||
Net income attributable to Cablevision Systems Corporation stockholders
|
$
|
94,377
|
|
|
$
|
44,633
|
|
Basic income (loss) per share attributable to Cablevision Systems Corporation stockholders:
|
|
|
|
|
|
||
Income from continuing operations, net of income taxes
|
$
|
0.35
|
|
|
$
|
0.21
|
|
Loss from discontinued operations, net of income taxes
|
$
|
—
|
|
|
$
|
(0.04
|
)
|
Net income
|
$
|
0.35
|
|
|
$
|
0.17
|
|
Basic weighted average common shares (in thousands)
|
271,092
|
|
|
267,919
|
|
||
Diluted income (loss) per share attributable to Cablevision Systems Corporation stockholders:
|
|
|
|
|
|
||
Income from continuing operations, net of income taxes
|
$
|
0.34
|
|
|
$
|
0.20
|
|
Loss from discontinued operations, net of income taxes
|
$
|
—
|
|
|
$
|
(0.04
|
)
|
Net income
|
$
|
0.34
|
|
|
$
|
0.16
|
|
Diluted weighted average common shares (in thousands)
|
279,013
|
|
|
274,370
|
|
||
Amounts attributable to Cablevision Systems Corporation stockholders:
|
|
|
|
|
|
||
Income from continuing operations, net of income taxes
|
$
|
94,377
|
|
|
$
|
55,135
|
|
Loss from discontinued operations, net of income taxes
|
—
|
|
|
(10,502
|
)
|
||
Net income
|
$
|
94,377
|
|
|
$
|
44,633
|
|
Cash dividends declared per share of common stock
|
$
|
—
|
|
|
$
|
0.15
|
|
CABLEVISION SYSTEMS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
(Unaudited)
|
|||||||
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
Net income
|
$
|
94,311
|
|
|
$
|
44,399
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
||
Defined benefit pension plans and postretirement plans:
|
|
|
|
|
|
||
Unrecognized actuarial gain (loss)
|
(6,025
|
)
|
|
15,408
|
|
||
Applicable income taxes
|
2,473
|
|
|
(6,317
|
)
|
||
Unrecognized income (loss) arising during period, net of income taxes
|
(3,552
|
)
|
|
9,091
|
|
||
Amortization of actuarial losses, net included in net periodic benefit cost
|
470
|
|
|
565
|
|
||
Applicable income taxes
|
(193
|
)
|
|
(232
|
)
|
||
Amortization of actuarial losses, net included in net periodic benefit cost, net of income taxes
|
277
|
|
|
333
|
|
||
Settlement loss included in net periodic benefit cost
|
619
|
|
|
954
|
|
||
Applicable income taxes
|
(254
|
)
|
|
(391
|
)
|
||
Settlement loss included in net periodic benefit cost, net of income taxes
|
365
|
|
|
563
|
|
||
Other comprehensive income (loss)
|
(2,910
|
)
|
|
9,987
|
|
||
Comprehensive income
|
91,401
|
|
|
54,386
|
|
||
Comprehensive loss attributable to noncontrolling interests
|
66
|
|
|
234
|
|
||
Comprehensive income attributable to Cablevision Systems Corporation stockholders
|
$
|
91,467
|
|
|
$
|
54,620
|
|
CABLEVISION SYSTEMS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Months Ended March 31, 2016 and 2015
(In thousands)
(Unaudited)
|
|||||||
|
2016
|
|
2015
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
$
|
94,311
|
|
|
$
|
44,399
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||
Loss from discontinued operations, net of income taxes
|
—
|
|
|
10,502
|
|
||
Depreciation and amortization
|
212,453
|
|
|
218,900
|
|
||
Loss (gain) on investments, net
|
(100,365
|
)
|
|
33,071
|
|
||
Loss (gain) on equity derivative contracts, net
|
48,012
|
|
|
(46,166
|
)
|
||
Amortization of deferred financing costs and discounts on indebtedness
|
6,118
|
|
|
5,858
|
|
||
Share-based compensation expense related to equity classified awards
|
14,522
|
|
|
11,911
|
|
||
Settlement loss and amortization of actuarial losses related to pension and postretirement plans
|
1,089
|
|
|
1,519
|
|
||
Deferred income taxes
|
55,065
|
|
|
36,759
|
|
||
Provision for doubtful accounts
|
5,133
|
|
|
7,581
|
|
||
Excess tax benefit related to share-based awards
|
—
|
|
|
(275
|
)
|
||
Changes in other assets and liabilities
|
(183,784
|
)
|
|
(108,725
|
)
|
||
Net cash provided by operating activities
|
152,554
|
|
|
215,334
|
|
||
Cash flows from investing activities:
|
|
|
|
|
|
||
Capital expenditures
|
(148,652
|
)
|
|
(166,631
|
)
|
||
Proceeds related to sale of equipment, including costs of disposal
|
722
|
|
|
595
|
|
||
Decrease (increase) in other investments
|
472
|
|
|
(207
|
)
|
||
Additions to other intangible assets
|
(570
|
)
|
|
(6,622
|
)
|
||
Net cash used in investing activities
|
(148,028
|
)
|
|
(172,865
|
)
|
||
Cash flows from financing activities:
|
|
|
|
|
|
||
Repayment of credit facility debt
|
(14,953
|
)
|
|
(15,462
|
)
|
||
Repayment of notes payable
|
(1,291
|
)
|
|
—
|
|
||
Proceeds from collateralized indebtedness
|
—
|
|
|
150,084
|
|
||
Repayment of collateralized indebtedness and related derivative contracts
|
—
|
|
|
(119,116
|
)
|
||
Proceeds from stock option exercises
|
13,665
|
|
|
2,552
|
|
||
Dividend distributions to common stockholders
|
(4,066
|
)
|
|
(3,925
|
)
|
||
Principal payments on capital lease obligations
|
(5,234
|
)
|
|
(4,484
|
)
|
||
Deemed repurchases of restricted stock
|
(41,469
|
)
|
|
(18,101
|
)
|
||
Distributions to noncontrolling interests, net
|
—
|
|
|
(258
|
)
|
||
Excess tax benefit related to share-based awards
|
—
|
|
|
275
|
|
||
Net cash used in financing activities
|
(53,348
|
)
|
|
(8,435
|
)
|
||
Net increase (decrease) in cash and cash equivalents from continuing operations
|
(48,822
|
)
|
|
34,034
|
|
||
Cash flows of discontinued operations:
|
|
|
|
|
|
||
Net cash provided by (used in) operating activities
|
(21,000
|
)
|
|
5
|
|
||
Net cash used in investing activities
|
—
|
|
|
(30
|
)
|
||
Net decrease in cash and cash equivalents from discontinued operations
|
(21,000
|
)
|
|
(25
|
)
|
||
Cash and cash equivalents at beginning of year
|
1,003,279
|
|
|
850,413
|
|
||
Cash and cash equivalents at end of period
|
$
|
933,457
|
|
|
$
|
884,422
|
|
CSC HOLDINGS, LLC AND SUBSIDIARIES
(a wholly-owned subsidiary of Cablevision Systems Corporation)
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
|
|||||||
|
March 31, 2016
|
|
December 31, 2015
|
||||
|
(Unaudited)
|
|
|
||||
ASSETS
|
|
|
|
||||
Current Assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
898,973
|
|
|
$
|
995,827
|
|
Accounts receivable, trade (less allowance for doubtful accounts of $5,604 and $6,039)
|
260,979
|
|
|
266,383
|
|
||
Prepaid expenses and other current assets
|
140,631
|
|
|
122,176
|
|
||
Amounts due from affiliates
|
1,187
|
|
|
748
|
|
||
Investment securities pledged as collateral
|
489,045
|
|
|
455,386
|
|
||
Derivative contracts
|
7,307
|
|
|
10,333
|
|
||
Total current assets
|
1,798,122
|
|
|
1,850,853
|
|
||
Property, plant and equipment, net of accumulated depreciation of $9,559,157 and $9,625,348
|
2,957,893
|
|
|
3,017,015
|
|
||
Investment securities pledged as collateral
|
822,808
|
|
|
756,596
|
|
||
Derivative contracts
|
31,461
|
|
|
72,075
|
|
||
Other assets
|
39,631
|
|
|
32,920
|
|
||
Amortizable intangible assets, net of accumulated amortization of $62,045 and $60,310
|
35,481
|
|
|
36,951
|
|
||
Indefinite-lived cable television franchises
|
731,848
|
|
|
731,848
|
|
||
Trademarks and other indefinite-lived intangible assets
|
7,250
|
|
|
7,250
|
|
||
Goodwill
|
262,345
|
|
|
262,345
|
|
||
Deferred financing costs, net of accumulated amortization of $8,930 and $8,150
|
6,808
|
|
|
7,588
|
|
||
|
$
|
6,693,647
|
|
|
$
|
6,775,441
|
|
CSC HOLDINGS, LLC AND SUBSIDIARIES
(a wholly-owned subsidiary of Cablevision Systems Corporation)
CONDENSED CONSOLIDATED BALANCE SHEETS (Cont'd)
(In thousands, except membership unit amounts)
|
|||||||
|
March 31, 2016
|
|
December 31, 2015
|
||||
|
(Unaudited)
|
|
|
||||
LIABILITIES AND MEMBER DEFICIENCY
|
|
|
|
||||
Current Liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
452,984
|
|
|
$
|
453,653
|
|
Accrued liabilities
|
426,304
|
|
|
573,931
|
|
||
Amounts due to affiliates
|
253,540
|
|
|
287,093
|
|
||
Deferred tax liability
|
103,096
|
|
|
60,963
|
|
||
Deferred revenue
|
63,246
|
|
|
55,545
|
|
||
Liabilities under derivative contracts
|
7,078
|
|
|
2,706
|
|
||
Credit facility debt
|
575,150
|
|
|
562,898
|
|
||
Collateralized indebtedness
|
433,014
|
|
|
416,621
|
|
||
Capital lease obligations
|
19,185
|
|
|
20,350
|
|
||
Notes payable
|
10,170
|
|
|
13,267
|
|
||
Total current liabilities
|
2,343,767
|
|
|
2,447,027
|
|
||
Deferred revenue
|
4,026
|
|
|
4,244
|
|
||
Other liabilities
|
227,647
|
|
|
256,946
|
|
||
Deferred tax liability
|
755,974
|
|
|
733,312
|
|
||
Credit facility debt
|
1,925,303
|
|
|
1,951,556
|
|
||
Collateralized indebtedness
|
758,310
|
|
|
774,703
|
|
||
Capital lease obligations
|
21,547
|
|
|
25,616
|
|
||
Notes payable
|
—
|
|
|
1,277
|
|
||
Senior notes and debentures
|
3,034,301
|
|
|
3,032,252
|
|
||
Total liabilities
|
9,070,875
|
|
|
9,226,933
|
|
||
Commitments and contingencies
|
|
|
|
|
|
||
Member's Deficiency:
|
|
|
|
|
|
||
Accumulated deficit
|
(1,761,640
|
)
|
|
(1,817,831
|
)
|
||
Senior notes due from Cablevision
|
(611,455
|
)
|
|
(611,455
|
)
|
||
Other member's equity (17,631,479 membership units issued and outstanding)
|
36,783
|
|
|
15,734
|
|
||
|
(2,336,312
|
)
|
|
(2,413,552
|
)
|
||
Accumulated other comprehensive loss
|
(40,582
|
)
|
|
(37,672
|
)
|
||
Total member's deficiency
|
(2,376,894
|
)
|
|
(2,451,224
|
)
|
||
Noncontrolling interest
|
(334
|
)
|
|
(268
|
)
|
||
Total deficiency
|
(2,377,228
|
)
|
|
(2,451,492
|
)
|
||
|
$
|
6,693,647
|
|
|
$
|
6,775,441
|
|
CSC HOLDINGS, LLC AND SUBSIDIARIES
(a wholly-owned subsidiary of Cablevision Systems Corporation)
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands)
(Unaudited)
|
|||||||
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
Revenues, net (including revenues, net from affiliates of $1,139 and $1,191, respectively) (See Note 14)
|
$
|
1,640,757
|
|
|
$
|
1,614,771
|
|
Operating expenses:
|
|
|
|
|
|
||
Technical and operating (excluding depreciation and amortization and including net charges from affiliates of $44,892 and $44,937, respectively) (See Note 14)
|
810,961
|
|
|
795,888
|
|
||
Selling, general and administrative (including net charges from affiliates of $1,942 and $1,928, respectively) (See Note 14)
|
365,051
|
|
|
376,764
|
|
||
Restructuring expense (credits)
|
1,037
|
|
|
(532
|
)
|
||
Depreciation and amortization
|
212,453
|
|
|
218,900
|
|
||
|
1,389,502
|
|
|
1,391,020
|
|
||
Operating income
|
251,255
|
|
|
223,751
|
|
||
Other income (expense):
|
|
|
|
|
|
||
Interest expense
|
(93,560
|
)
|
|
(89,552
|
)
|
||
Interest income
|
12,887
|
|
|
12,177
|
|
||
Gain (loss) on investments, net
|
100,365
|
|
|
(33,071
|
)
|
||
Gain (loss) on equity derivative contracts, net
|
(48,012
|
)
|
|
46,166
|
|
||
Miscellaneous, net
|
1,971
|
|
|
1,007
|
|
||
|
(26,349
|
)
|
|
(63,273
|
)
|
||
Income from continuing operations before income taxes
|
224,906
|
|
|
160,478
|
|
||
Income tax expense
|
(92,156
|
)
|
|
(67,542
|
)
|
||
Income from continuing operations, net of income taxes
|
132,750
|
|
|
92,936
|
|
||
Loss from discontinued operations, net of income taxes
|
—
|
|
|
(10,502
|
)
|
||
Net income
|
132,750
|
|
|
82,434
|
|
||
Net loss attributable to noncontrolling interests
|
66
|
|
|
234
|
|
||
Net income attributable to CSC Holdings, LLC's sole member
|
$
|
132,816
|
|
|
$
|
82,668
|
|
Amounts attributable to CSC Holdings, LLC's sole member:
|
|
|
|
|
|
||
Income from continuing operations, net of income taxes
|
$
|
132,816
|
|
|
$
|
93,170
|
|
Loss from discontinued operations, net of income taxes
|
—
|
|
|
(10,502
|
)
|
||
Net income
|
$
|
132,816
|
|
|
$
|
82,668
|
|
CSC HOLDINGS, LLC AND SUBSIDIARIES
(a wholly-owned subsidiary of Cablevision Systems Corporation)
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
(Unaudited)
|
|||||||
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
Net income
|
$
|
132,750
|
|
|
$
|
82,434
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
||
Defined benefit pension plans and postretirement plans:
|
|
|
|
|
|
||
Unrecognized actuarial gain (loss)
|
(6,025
|
)
|
|
15,408
|
|
||
Applicable income taxes
|
2,473
|
|
|
(6,317
|
)
|
||
Unrecognized income (loss) arising during period, net of income taxes
|
(3,552
|
)
|
|
9,091
|
|
||
Amortization of actuarial losses, net included in net periodic benefit cost
|
470
|
|
|
565
|
|
||
Applicable income taxes
|
(193
|
)
|
|
(232
|
)
|
||
Amortization of actuarial losses, net included in net periodic benefit cost, net of income taxes
|
277
|
|
|
333
|
|
||
Settlement loss included in net periodic benefit cost
|
619
|
|
|
954
|
|
||
Applicable income taxes
|
(254
|
)
|
|
(391
|
)
|
||
Settlement loss included in net periodic benefit cost, net of income taxes
|
365
|
|
|
563
|
|
||
Other comprehensive income (loss)
|
(2,910
|
)
|
|
9,987
|
|
||
Comprehensive income
|
129,840
|
|
|
92,421
|
|
||
Comprehensive loss attributable to noncontrolling interests
|
66
|
|
|
234
|
|
||
Comprehensive income attributable to CSC Holdings, LLC's sole member
|
$
|
129,906
|
|
|
$
|
92,655
|
|
CSC HOLDINGS, LLC AND SUBSIDIARIES
(a wholly-owned subsidiary of Cablevision Systems Corporation)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Months Ended March 31, 2016 and 2015
(In thousands)
(Unaudited)
|
|||||||
|
2016
|
|
2015
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
$
|
132,750
|
|
|
$
|
82,434
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||
Loss from discontinued operations, net of income taxes
|
—
|
|
|
10,502
|
|
||
Depreciation and amortization
|
212,453
|
|
|
218,900
|
|
||
Loss (gain) on investments, net
|
(100,365
|
)
|
|
33,071
|
|
||
Loss (gain) on equity derivative contracts, net
|
48,012
|
|
|
(46,166
|
)
|
||
Amortization of deferred financing costs and discounts on indebtedness
|
3,781
|
|
|
3,704
|
|
||
Share-based compensation expense related to Cablevision equity classified awards
|
14,522
|
|
|
11,911
|
|
||
Settlement loss and amortization of actuarial losses related to pension and postretirement plans
|
1,089
|
|
|
1,519
|
|
||
Deferred income taxes
|
57,887
|
|
|
15,270
|
|
||
Provision for doubtful accounts
|
5,133
|
|
|
7,581
|
|
||
Excess tax benefit related to share-based awards
|
(31,653
|
)
|
|
(5,641
|
)
|
||
Changes in other assets and liabilities
|
(179,732
|
)
|
|
(66,774
|
)
|
||
Net cash provided by operating activities
|
163,877
|
|
|
266,311
|
|
||
Cash flows from investing activities:
|
|
|
|
|
|
||
Capital expenditures
|
(148,652
|
)
|
|
(166,631
|
)
|
||
Proceeds related to sale of equipment, including costs of disposal
|
722
|
|
|
595
|
|
||
Decrease (increase) in other investments
|
472
|
|
|
(207
|
)
|
||
Additions to other intangible assets
|
(570
|
)
|
|
(6,622
|
)
|
||
Net cash used in investing activities
|
(148,028
|
)
|
|
(172,865
|
)
|
||
Cash flows from financing activities:
|
|
|
|
|
|
||
Repayment of credit facility debt
|
(14,953
|
)
|
|
(15,462
|
)
|
||
Repayment of notes payable
|
(1,291
|
)
|
|
—
|
|
||
Proceeds from collateralized indebtedness
|
—
|
|
|
150,084
|
|
||
Repayment of collateralized indebtedness and related derivative contracts
|
—
|
|
|
(119,116
|
)
|
||
Distributions to Cablevision
|
(101,878
|
)
|
|
(60,312
|
)
|
||
Principal payments on capital lease obligations
|
(5,234
|
)
|
|
(4,484
|
)
|
||
Distributions to noncontrolling interests, net
|
—
|
|
|
(258
|
)
|
||
Excess tax benefit related to share-based awards
|
31,653
|
|
|
5,641
|
|
||
Net cash used in financing activities
|
(91,703
|
)
|
|
(43,907
|
)
|
||
Net increase (decrease) in cash and cash equivalents from continuing operations
|
(75,854
|
)
|
|
49,539
|
|
||
Cash flows of discontinued operations:
|
|
|
|
|
|
||
Net cash provided by (used in) operating activities
|
(21,000
|
)
|
|
5
|
|
||
Net cash used in investing activities
|
—
|
|
|
(30
|
)
|
||
Net decrease in cash and cash equivalents from discontinued operations
|
(21,000
|
)
|
|
(25
|
)
|
||
Cash and cash equivalents at beginning of year
|
995,827
|
|
|
813,396
|
|
||
Cash and cash equivalents at end of period
|
$
|
898,973
|
|
|
$
|
862,910
|
|
•
|
Cablevision's payments in respect of dividends declared and accrued in prior periods related to restricted shares that vested;
|
•
|
Cablevision's interest payments on its senior notes; and
|
•
|
Cablevision's payments for the acquisition of treasury shares related to statutory minimum tax withholding obligations upon the vesting of certain restricted shares.
|
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
Non-Cash Investing and Financing Activities of Cablevision and CSC Holdings:
|
|
|
|
||||
Continuing Operations:
|
|
|
|
||||
Property and equipment accrued but unpaid
|
$
|
67,383
|
|
|
$
|
26,785
|
|
Capital lease obligations
|
—
|
|
|
990
|
|
||
Intangible asset obligations
|
182
|
|
|
302
|
|
||
Non-Cash Investing and Financing Activities of Cablevision:
|
|
|
|
|
|
||
Dividends payable on unvested restricted share awards
|
(62
|
)
|
|
1,079
|
|
||
Supplemental Data:
|
|
|
|
|
|
||
Continuing Operations - Cablevision:
|
|
|
|
|
|
||
Cash interest paid
|
147,751
|
|
|
143,446
|
|
||
Income taxes paid (refunded), net
|
7,082
|
|
|
(382
|
)
|
||
Continuing Operations - CSC Holdings:
|
|
|
|
|
|
||
Cash interest paid
|
89,874
|
|
|
85,564
|
|
||
Income taxes paid (refunded), net
|
7,082
|
|
|
(382
|
)
|
Derivatives Not Designated as
Hedging
Instruments
|
|
|
|
Asset Derivatives
|
|
Liability Derivatives
|
||||||||||||
|
Balance
Sheet
Location
|
|
Fair Value at March 31,
2016
|
|
Fair Value at December 31, 2015
|
|
Fair Value at March 31,
2016
|
|
Fair Value at December 31, 2015
|
|||||||||
Prepaid forward contracts
|
|
Current derivative contracts
|
|
$
|
7,307
|
|
|
$
|
10,333
|
|
|
$
|
7,078
|
|
|
$
|
2,706
|
|
Prepaid forward contracts
|
|
Long-term derivative contracts
|
|
31,461
|
|
|
72,075
|
|
|
—
|
|
|
—
|
|
||||
Total derivative contracts
|
|
$
|
38,768
|
|
|
$
|
82,408
|
|
|
$
|
7,078
|
|
|
$
|
2,706
|
|
•
|
Level I - Quoted prices for identical instruments in active markets.
|
•
|
Level II - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.
|
•
|
Level III - Instruments whose significant value drivers are unobservable.
|
|
|
At March 31, 2016
|
||||||||||||||
|
|
Level I
|
|
Level II
|
|
Level III
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
$
|
853,138
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
853,138
|
|
Investment securities
|
|
152
|
|
|
—
|
|
|
—
|
|
|
152
|
|
||||
Investment securities pledged as collateral
|
|
1,311,853
|
|
|
—
|
|
|
—
|
|
|
1,311,853
|
|
||||
Prepaid forward contracts
|
|
—
|
|
|
38,768
|
|
|
—
|
|
|
38,768
|
|
||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Prepaid forward contracts
|
|
—
|
|
|
7,078
|
|
|
—
|
|
|
7,078
|
|
|
|
At December 31, 2015
|
||||||||||||||
|
|
Level I
|
|
Level II
|
|
Level III
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
$
|
922,765
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
922,765
|
|
Investment securities
|
|
130
|
|
|
—
|
|
|
—
|
|
|
130
|
|
||||
Investment securities pledged as collateral
|
|
1,211,982
|
|
|
—
|
|
|
—
|
|
|
1,211,982
|
|
||||
Prepaid forward contracts
|
|
—
|
|
|
82,408
|
|
|
—
|
|
|
82,408
|
|
||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Prepaid forward contracts
|
|
—
|
|
|
2,706
|
|
|
—
|
|
|
2,706
|
|
|
|
|
|
March 31, 2016
|
||||||
|
|
Fair Value Hierarchy
|
|
Carrying
Amount (c)
|
|
Estimated
Fair Value
|
||||
CSC Holdings notes receivable:
|
|
|
|
|
|
|
||||
Cablevision senior notes held by Newsday Holdings LLC (a)
|
|
Level II
|
|
$
|
611,455
|
|
|
$
|
616,020
|
|
Debt instruments:
|
|
|
|
|
|
|
|
|
||
Credit facility debt (b)
|
|
Level II
|
|
$
|
2,500,453
|
|
|
$
|
2,510,701
|
|
Collateralized indebtedness
|
|
Level II
|
|
1,191,324
|
|
|
1,175,291
|
|
||
Senior notes and debentures
|
|
Level II
|
|
3,034,301
|
|
|
2,996,440
|
|
||
Notes payable
|
|
Level II
|
|
10,170
|
|
|
10,130
|
|
||
CSC Holdings total debt instruments
|
|
|
|
6,736,248
|
|
|
6,692,562
|
|
||
Cablevision senior notes
|
|
Level II
|
|
2,771,096
|
|
|
2,760,168
|
|
||
Cablevision total debt instruments
|
|
|
|
$
|
9,507,344
|
|
|
$
|
9,452,730
|
|
|
|
|
|
December 31, 2015
|
||||||
|
|
Fair Value Hierarchy
|
|
Carrying
Amount (c)
|
|
Estimated
Fair Value
|
||||
CSC Holdings notes receivable:
|
|
|
|
|
|
|
||||
Cablevision senior notes held by Newsday Holdings LLC (a)
|
|
Level II
|
|
$
|
611,455
|
|
|
$
|
616,020
|
|
Debt instruments:
|
|
|
|
|
|
|
|
|
||
Credit facility debt (b)
|
|
Level II
|
|
$
|
2,514,454
|
|
|
$
|
2,525,654
|
|
Collateralized indebtedness
|
|
Level II
|
|
1,191,324
|
|
|
1,176,396
|
|
||
Senior notes and debentures
|
|
Level II
|
|
3,032,252
|
|
|
2,996,440
|
|
||
Notes payable
|
|
Level II
|
|
14,544
|
|
|
14,483
|
|
||
CSC Holdings total debt instruments
|
|
|
|
6,752,574
|
|
|
6,712,973
|
|
||
Cablevision senior notes
|
|
Level II
|
|
2,768,759
|
|
|
2,760,168
|
|
||
Cablevision total debt instruments
|
|
|
|
$
|
9,521,333
|
|
|
$
|
9,473,141
|
|
|
(a)
|
These notes are eliminated at the consolidated Cablevision level.
|
(b)
|
The principal amount of the Company's credit facility debt, which bears interest at variable rates, approximates its fair value.
|
(c)
|
Amounts are net of unamortized deferred financing costs and discounts.
|
|
Shares
Under Option
|
|
Weighted Average
Exercise
Price Per Share
|
|
Weighted Average Remaining
Contractual Term
(in years)
|
|
|
||||||||
|
Time
Vesting Options
|
|
Performance
Based Vesting Options
|
|
|
|
Aggregate Intrinsic
Value (a)
|
||||||||
Balance, December 31, 2015
|
6,744,000
|
|
|
6,609,217
|
|
|
$
|
15.28
|
|
|
6.80
|
|
$
|
221,900
|
|
Granted
|
—
|
|
|
—
|
|
|
—
|
|
|
|
|
|
|
||
Exercised
|
(200,000
|
)
|
|
(718,517
|
)
|
|
14.86
|
|
|
|
|
|
|
||
Balance, March 31, 2016
|
6,544,000
|
|
|
5,890,700
|
|
|
$
|
15.31
|
|
|
6.65
|
|
$
|
219,925
|
|
Options exercisable at March 31, 2016
|
3,210,666
|
|
|
5,890,700
|
|
|
$
|
14.24
|
|
|
6.03
|
|
$
|
170,765
|
|
Options expected to vest in the future
|
3,333,334
|
|
|
—
|
|
|
$
|
18.25
|
|
|
8.33
|
|
$
|
49,160
|
|
|
(a)
|
The aggregate intrinsic value is calculated as the difference between (i) the exercise price of the underlying award and (ii) the quoted price of CNYG Class A common stock on
March 31, 2016
or
December 31, 2015
, as indicated, and
March 31, 2016
in the case of options exercisable and options expected to vest in the future.
|
|
Number of Restricted Shares
|
|
Number of Performance Restricted Shares
|
|
Number of Performance Based Restricted Stock Units ("PSU") (a)
|
|
Weighted Average Fair Value Per Share at Date of Grant
|
|||||
Unvested award balance, December 31, 2015
|
4,967,748
|
|
|
1,880,100
|
|
|
1,772,430
|
|
|
$
|
17.53
|
|
Granted
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Vested
|
(2,239,167
|
)
|
|
(753,296
|
)
|
|
—
|
|
|
15.35
|
|
|
Awards forfeited
|
(85,900
|
)
|
|
—
|
|
|
(47,490
|
)
|
|
18.38
|
|
|
Unvested award balance, March 31, 2016
|
2,642,681
|
|
|
1,126,804
|
|
|
1,724,940
|
|
|
18.69
|
|
|
(a)
|
The PSUs entitle the employee to shares of CNYG common stock up to
150%
of the number of PSUs granted depending on the level of achievement of the specified performance criteria. If the minimum performance threshold is not met, no shares will be issued. Accrued dividends are paid to the extent that a PSU vests and the related stock is issued.
|
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
Revenues, net from continuing operations
|
|
|
|
||||
Cable
|
$
|
1,480,119
|
|
|
$
|
1,451,538
|
|
Lightpath
|
91,804
|
|
|
91,124
|
|
||
Other
|
78,097
|
|
|
81,780
|
|
||
Inter-segment eliminations (a)
|
(9,263
|
)
|
|
(9,671
|
)
|
||
|
$
|
1,640,757
|
|
|
$
|
1,614,771
|
|
Adjusted operating cash flow (deficit) from continuing operations
|
|
|
|
|
|
||
Cable
|
$
|
472,199
|
|
|
$
|
446,555
|
|
Lightpath
|
43,387
|
|
|
43,395
|
|
||
Other
|
(36,144
|
)
|
|
(35,920
|
)
|
||
|
$
|
479,442
|
|
|
$
|
454,030
|
|
Depreciation and amortization included in continuing operations
|
|
|
|
|
|
||
Cable (b)
|
$
|
(180,694
|
)
|
|
$
|
(186,245
|
)
|
Lightpath (b)
|
(21,524
|
)
|
|
(22,738
|
)
|
||
Other
|
(10,235
|
)
|
|
(9,917
|
)
|
||
|
$
|
(212,453
|
)
|
|
$
|
(218,900
|
)
|
|
|
|
|
||||
Share-based compensation expense included in continuing operations
|
|
|
|
||||
Cable
|
$
|
(10,083
|
)
|
|
$
|
(8,211
|
)
|
Lightpath
|
(1,629
|
)
|
|
(1,382
|
)
|
||
Other
|
(2,985
|
)
|
|
(2,318
|
)
|
||
|
$
|
(14,697
|
)
|
|
$
|
(11,911
|
)
|
Restructuring credits (expense) included in continuing operations
|
|
|
|
|
|
||
Cable
|
$
|
—
|
|
|
$
|
—
|
|
Lightpath
|
—
|
|
|
—
|
|
||
Other
|
(1,037
|
)
|
|
532
|
|
||
|
$
|
(1,037
|
)
|
|
$
|
532
|
|
Operating income (loss) from continuing operations
|
|
|
|
|
|
||
Cable
|
$
|
281,422
|
|
|
$
|
252,099
|
|
Lightpath
|
20,234
|
|
|
19,275
|
|
||
Other
|
(50,401
|
)
|
|
(47,623
|
)
|
||
|
$
|
251,255
|
|
|
$
|
223,751
|
|
|
(a)
|
Inter-segment eliminations relate primarily to revenues recognized from the sale of local programming and voice services to the Company's Cable segment.
|
(b)
|
The Cable and Lightpath segments share portions of each other's network infrastructure. Depreciation charges are recorded by the segment that acquired the respective asset.
|
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
Video (including equipment rental, DVR, franchise fees, video-on-demand and pay-per-view)
|
$
|
785,255
|
|
|
$
|
800,968
|
|
High-speed data
|
401,536
|
|
|
362,872
|
|
||
Voice
|
223,710
|
|
|
231,593
|
|
||
Advertising
|
30,189
|
|
|
30,777
|
|
||
Other (including installation, advertising sales commissions, home shopping, and other products)
|
39,429
|
|
|
25,328
|
|
||
|
$
|
1,480,119
|
|
|
$
|
1,451,538
|
|
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
Capital expenditures
|
|
|
|
||||
Cable
|
$
|
119,591
|
|
|
$
|
133,571
|
|
Lightpath
|
21,157
|
|
|
23,732
|
|
||
Other
|
7,904
|
|
|
9,328
|
|
||
|
$
|
148,652
|
|
|
$
|
166,631
|
|
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
|
|
|
|
||||
Revenues, net
|
$
|
1,139
|
|
|
$
|
1,191
|
|
Operating expenses:
|
|
|
|
|
|
||
Technical expenses (a)
|
$
|
44,892
|
|
|
$
|
44,937
|
|
Selling, general and administrative expenses, net
|
1,942
|
|
|
1,928
|
|
||
Operating expenses, net
|
46,834
|
|
|
46,865
|
|
||
Net charges
|
$
|
45,695
|
|
|
$
|
45,674
|
|
|
(a)
|
Technical expenses include primarily costs incurred by the Company for the carriage of the MSG networks, as well as for AMC, WE tv, IFC, Sundance Channel and BBC America on the Company's cable systems. The Company also purchases certain programming signal transmission and production services from AMC Networks.
|
Item 2.
|
Management's Discussion and Analysis of Financial Condition and Results of Operations
|
|
|
Three Months Ended March 31,
|
|
|
||||||||||||||
|
|
2016
|
|
2015
|
|
|
||||||||||||
|
|
Amount
|
|
% of Net
Revenues
|
|
Amount
|
|
% of Net
Revenues
|
|
Favorable
(Unfavorable)
|
||||||||
Revenues, net
|
|
$
|
1,640,757
|
|
|
100
|
%
|
|
$
|
1,614,771
|
|
|
100
|
%
|
|
$
|
25,986
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Technical and operating (excluding depreciation and amortization)
|
|
810,961
|
|
|
49
|
|
|
795,888
|
|
|
49
|
|
|
(15,073
|
)
|
|||
Selling, general and administrative
|
|
365,051
|
|
|
22
|
|
|
376,764
|
|
|
23
|
|
|
11,713
|
|
|||
Restructuring expense (credits)
|
|
1,037
|
|
|
—
|
|
|
(532
|
)
|
|
—
|
|
|
(1,569
|
)
|
|||
Depreciation and amortization
|
|
212,453
|
|
|
13
|
|
|
218,900
|
|
|
14
|
|
|
6,447
|
|
|||
Operating income
|
|
251,255
|
|
|
15
|
|
|
223,751
|
|
|
14
|
|
|
27,504
|
|
|||
Other income (expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Interest expense, net
|
|
(148,482
|
)
|
|
(9
|
)
|
|
(145,012
|
)
|
|
(9
|
)
|
|
(3,470
|
)
|
|||
Gain (loss) on investments, net
|
|
100,365
|
|
|
6
|
|
|
(33,071
|
)
|
|
(2
|
)
|
|
133,436
|
|
|||
Gain (loss) on equity derivative contracts, net
|
|
(48,012
|
)
|
|
(3
|
)
|
|
46,166
|
|
|
3
|
|
|
(94,178
|
)
|
|||
Miscellaneous, net
|
|
1,971
|
|
|
—
|
|
|
1,007
|
|
|
—
|
|
|
964
|
|
|||
Income from continuing operations before income taxes
|
|
157,097
|
|
|
10
|
|
|
92,841
|
|
|
6
|
|
|
64,256
|
|
|||
Income tax expense
|
|
(62,786
|
)
|
|
(4
|
)
|
|
(37,940
|
)
|
|
(2
|
)
|
|
(24,846
|
)
|
|||
Income from continuing operations, net of income taxes
|
|
94,311
|
|
|
6
|
|
|
54,901
|
|
|
3
|
|
|
39,410
|
|
|||
Loss from discontinued operations, net of income taxes
|
|
—
|
|
|
—
|
|
|
(10,502
|
)
|
|
(1
|
)
|
|
10,502
|
|
|||
Net income
|
|
94,311
|
|
|
6
|
|
|
44,399
|
|
|
3
|
|
|
49,912
|
|
|||
Net loss attributable to noncontrolling interests
|
|
66
|
|
|
—
|
|
|
234
|
|
|
—
|
|
|
(168
|
)
|
|||
Net income attributable to Cablevision Systems Corporation stockholders
|
|
$
|
94,377
|
|
|
6
|
%
|
|
$
|
44,633
|
|
|
3
|
%
|
|
$
|
49,744
|
|
|
|
Three Months Ended March 31,
|
|
Favorable
(Unfavorable)
|
||||||||
|
|
2016
|
|
2015
|
|
|||||||
Operating income
|
|
$
|
251,255
|
|
|
$
|
223,751
|
|
|
$
|
27,504
|
|
Share-based compensation
|
|
14,697
|
|
|
11,911
|
|
|
2,786
|
|
|||
Restructuring expense (credits)
|
|
1,037
|
|
|
(532
|
)
|
|
1,569
|
|
|||
Depreciation and amortization
|
|
212,453
|
|
|
218,900
|
|
|
(6,447
|
)
|
|||
AOCF
|
|
$
|
479,442
|
|
|
$
|
454,030
|
|
|
$
|
25,412
|
|
•
|
Cable, consisting principally of our video, high-speed data, and VoIP services;
|
•
|
Lightpath, which provides Ethernet-based data, Internet, voice and video transport and managed services to the business market in the New York metropolitan area; and
|
•
|
Other, consisting principally of (i) Newsday, (ii) the News 12 Networks, (iii) Cablevision Media Sales, and (iv) certain other businesses and unallocated corporate costs.
|
Increase in revenues of the Cable segment
|
$
|
28,581
|
|
Increase in revenues of the Lightpath segment
|
680
|
|
|
Decrease in revenues of the Other segment
|
(3,683
|
)
|
|
Inter-segment eliminations
|
408
|
|
|
|
$
|
25,986
|
|
•
|
cable programming costs which are costs paid to programmers (net of amortization of any incentives received from programmers for carriage) for cable content and are generally paid on a per-subscriber basis;
|
•
|
network management and field service costs, which represent costs associated with the maintenance of our broadband network, including costs of certain customer connections;
|
•
|
interconnection, call completion, circuit and transport fees paid to other telecommunication companies for the transport and termination of voice and data services; and
|
•
|
content, production and distribution costs of our Newsday business.
|
Increase in expenses of the Cable segment
|
$
|
18,608
|
|
Decrease in expenses of the Lightpath segment
|
(50
|
)
|
|
Decrease in expenses of the Other segment
|
(3,891
|
)
|
|
Inter-segment eliminations
|
406
|
|
|
|
$
|
15,073
|
|
Decrease in expenses of the Cable segment
|
$
|
(13,799
|
)
|
Increase in expenses of the Lightpath segment
|
985
|
|
|
Increase in expenses of the Other segment
|
1,099
|
|
|
Inter-segment eliminations
|
2
|
|
|
|
$
|
(11,713
|
)
|
Decrease in expenses of the Cable segment
|
$
|
(5,551
|
)
|
Decrease in expenses of the Lightpath segment
|
(1,214
|
)
|
|
Increase in expenses of the Other segment
|
318
|
|
|
|
$
|
(6,447
|
)
|
Increase in AOCF of the Cable segment
|
$
|
25,644
|
|
Decrease in AOCF of the Lightpath segment
|
(8
|
)
|
|
Decrease in AOCF of the Other segment
|
(224
|
)
|
|
|
$
|
25,412
|
|
Increase due to change in average interest rates on our indebtedness
|
$
|
5,076
|
|
Decrease due to change in average debt balances
|
(1,038
|
)
|
|
Higher interest income
|
(716
|
)
|
|
Other net increases, primarily amortization of deferred financing costs
|
148
|
|
|
|
$
|
3,470
|
|
|
|
Three Months Ended March 31,
|
|
|
||||||||||||||
|
|
2016
|
|
2015
|
|
|
||||||||||||
|
|
Amount
|
|
% of Net
Revenues |
|
Amount
|
|
% of Net
Revenues |
|
Favorable
(Unfavorable) |
||||||||
Revenues, net
|
|
$
|
1,480,119
|
|
|
100
|
%
|
|
$
|
1,451,538
|
|
|
100
|
%
|
|
$
|
28,581
|
|
Technical and operating expenses (excluding depreciation and amortization shown below)
|
|
738,751
|
|
|
50
|
|
|
720,143
|
|
|
50
|
|
|
(18,608
|
)
|
|||
Selling, general and administrative expenses
|
|
279,252
|
|
|
19
|
|
|
293,051
|
|
|
20
|
|
|
13,799
|
|
|||
Depreciation and amortization
|
|
180,694
|
|
|
12
|
|
|
186,245
|
|
|
13
|
|
|
5,551
|
|
|||
Operating income
|
|
$
|
281,422
|
|
|
19
|
%
|
|
$
|
252,099
|
|
|
17
|
%
|
|
$
|
29,323
|
|
The following is a reconciliation of operating income to AOCF:
|
|
|
|
|
|
||||||
|
Three Months Ended March 31,
|
|
|
||||||||
|
2016
|
|
2015
|
|
Favorable
(Unfavorable) |
||||||
|
Amount
|
|
Amount
|
|
|||||||
Operating income
|
$
|
281,422
|
|
|
$
|
252,099
|
|
|
$
|
29,323
|
|
Share-based compensation
|
10,083
|
|
|
8,211
|
|
|
1,872
|
|
|||
Depreciation and amortization
|
180,694
|
|
|
186,245
|
|
|
(5,551
|
)
|
|||
AOCF
|
$
|
472,199
|
|
|
$
|
446,555
|
|
|
$
|
25,644
|
|
|
Three Months Ended March 31,
|
|
Increase
|
|
Percent Increase
|
|||||||||
|
2016
|
|
2015
|
|
(Decrease)
|
|
(Decrease)
|
|||||||
Video (including equipment rental, DVR, franchise fees, video-on-demand and pay-per-view)
|
$
|
785,255
|
|
|
$
|
800,968
|
|
|
$
|
(15,713
|
)
|
|
(2
|
)%
|
High-speed data
|
401,536
|
|
|
362,872
|
|
|
38,664
|
|
|
11
|
|
|||
Voice
|
223,710
|
|
|
231,593
|
|
|
(7,883
|
)
|
|
(3
|
)
|
|||
Advertising
|
30,189
|
|
|
30,777
|
|
|
(588
|
)
|
|
(2
|
)
|
|||
Other (including installation, advertising sales commissions, home shopping, and other products)
|
39,429
|
|
|
25,328
|
|
|
14,101
|
|
|
56
|
|
|||
|
$
|
1,480,119
|
|
|
$
|
1,451,538
|
|
|
$
|
28,581
|
|
|
2
|
%
|
|
March 31,
2016
|
|
December 31,
2015
|
|
March 31,
2015
|
|
(in thousands)
|
||||
Total customers
|
3,129
|
|
3,120
|
|
3,112
|
Video customers
|
2,579
|
|
2,594
|
|
2,653
|
High-speed data customers
|
2,828
|
|
2,809
|
|
2,767
|
Voice customers
|
2,185
|
|
2,193
|
|
2,215
|
Serviceable passings
|
5,090
|
|
5,080
|
|
5,055
|
Average monthly revenue per customer ("RPC") (a)
|
$157.91
|
|
$155.88
|
|
$155.34
|
|
(a)
|
RPC is calculated by dividing the average monthly GAAP revenues for the Cable segment for the respective quarter presented by the average number of total customers served by our cable systems for the same period.
|
|
Three Months Ended March 31,
|
||||
|
2016
|
|
2015
|
||
|
(in thousands)
|
||||
Total customers
|
9.0
|
|
|
(5.6
|
)
|
Video customers
|
(14.8
|
)
|
|
(28.6
|
)
|
High-speed data customers
|
18.5
|
|
|
7.2
|
|
Voice customers
|
(8.3
|
)
|
|
(14.0
|
)
|
Decrease in advertising, marketing media placement and production costs
|
$
|
(8,821
|
)
|
Decrease in employee related costs due primarily to the elimination of certain positions and lower net benefits, partially offset by merit increases
|
(4,550
|
)
|
|
Decrease in legal costs
|
(3,943
|
)
|
|
Decrease in expenses related to long-term incentive plan awards due to the elimination of the cash portion of these awards
|
(2,765
|
)
|
|
Increase in product development costs and product consulting fees
|
2,840
|
|
|
Increase in share-based compensation
|
1,872
|
|
|
Other net increases
|
1,568
|
|
|
|
$
|
(13,799
|
)
|
|
Three Months Ended March 31,
|
|
|
||||||||||||||
|
2016
|
|
2015
|
|
|
||||||||||||
|
Amount
|
|
% of Net
Revenues |
|
Amount
|
|
% of Net
Revenues |
|
Favorable
(Unfavorable) |
||||||||
Revenues, net
|
$
|
91,804
|
|
|
100
|
%
|
|
$
|
91,124
|
|
|
100
|
%
|
|
$
|
680
|
|
Technical and operating expenses (excluding depreciation and amortization shown below)
|
28,585
|
|
|
31
|
|
|
28,635
|
|
|
31
|
|
|
50
|
|
|||
Selling, general and administrative expenses
|
21,461
|
|
|
23
|
|
|
20,476
|
|
|
22
|
|
|
(985
|
)
|
|||
Depreciation and amortization
|
21,524
|
|
|
23
|
|
|
22,738
|
|
|
25
|
|
|
1,214
|
|
|||
Operating income
|
$
|
20,234
|
|
|
22
|
%
|
|
$
|
19,275
|
|
|
21
|
%
|
|
$
|
959
|
|
|
Three Months Ended March 31,
|
|
|
||||||||
|
2016
|
|
2015
|
|
Favorable
(Unfavorable) |
||||||
|
Amount
|
|
Amount
|
|
|||||||
Operating income
|
$
|
20,234
|
|
|
$
|
19,275
|
|
|
$
|
959
|
|
Share-based compensation
|
1,629
|
|
|
1,382
|
|
|
247
|
|
|||
Depreciation and amortization
|
21,524
|
|
|
22,738
|
|
|
(1,214
|
)
|
|||
AOCF
|
$
|
43,387
|
|
|
$
|
43,395
|
|
|
$
|
(8
|
)
|
|
Three Months Ended March 31,
|
|
|
||||||||||||||
|
2016
|
|
2015
|
|
|
||||||||||||
|
Amount
|
|
% of Net
Revenues |
|
Amount
|
|
% of Net
Revenues |
|
Favorable (Unfavorable)
|
||||||||
|
|
|
|
|
|
|
|
|
|
||||||||
Revenues, net
|
$
|
78,097
|
|
|
100
|
%
|
|
$
|
81,780
|
|
|
100
|
%
|
|
$
|
(3,683
|
)
|
Technical and operating expenses (excluding depreciation and amortization)
|
51,267
|
|
|
66
|
|
|
55,158
|
|
|
67
|
|
|
3,891
|
|
|||
Selling, general and administrative expenses
|
65,959
|
|
|
84
|
|
|
64,860
|
|
|
79
|
|
|
(1,099
|
)
|
|||
Restructuring expense (credits)
|
1,037
|
|
|
1
|
|
|
(532
|
)
|
|
(1
|
)
|
|
(1,569
|
)
|
|||
Depreciation and amortization
|
10,235
|
|
|
13
|
|
|
9,917
|
|
|
12
|
|
|
(318
|
)
|
|||
Operating loss
|
$
|
(50,401
|
)
|
|
(65
|
)%
|
|
$
|
(47,623
|
)
|
|
(58
|
)%
|
|
$
|
(2,778
|
)
|
Decrease in revenues at Newsday (from $56,285 to $51,874) due primarily to decreases in advertising revenues driven primarily by competition from other media, partially offset by an increase in circulation revenues
|
$
|
(4,411
|
)
|
Net increase in revenues, primarily advertising revenues at News 12 Networks, partially offset by decreases in other businesses
|
715
|
|
|
Intra-segment eliminations
|
13
|
|
|
|
$
|
(3,683
|
)
|
Decrease in costs at Newsday (from $40,786 to $36,892) due primarily to lower newsprint and ink expenses, as well as lower distribution and employee related costs
|
$
|
(3,894
|
)
|
Other net increases
|
3
|
|
|
|
$
|
(3,891
|
)
|
Increase in expenses at Newsday (from $22,154 to $24,316) due primarily to the termination and favorable settlement of a distribution agreement in the first quarter of 2015, partially offset by a decrease in long-term incentive plan and utilities expenses
|
$
|
2,162
|
|
Decrease in corporate costs, net of allocations to business units, partially offset by merger-related costs of $1,416
|
(1,132
|
)
|
|
Increase in expenses at certain other businesses
|
53
|
|
|
Intra-segment eliminations
|
16
|
|
|
|
$
|
1,099
|
|
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
Net income attributable to Cablevision Systems Corporation stockholders
|
$
|
94,377
|
|
|
$
|
44,633
|
|
Interest expense relating to Cablevision senior notes included in Cablevision's consolidated statements of income
|
55,807
|
|
|
55,629
|
|
||
Interest income related to cash held at Cablevision
|
(11
|
)
|
|
(5
|
)
|
||
Interest income included in CSC Holdings' consolidated statements related to interest on Cablevision's senior notes held by Newsday Holdings (this interest income is eliminated in the consolidated statements of income of Cablevision)
|
12,013
|
|
|
12,013
|
|
||
Income tax benefit included in Cablevision's consolidated statements of income related to the items listed above
|
(29,370
|
)
|
|
(29,602
|
)
|
||
Net income attributable to CSC Holdings, LLC's sole member
|
$
|
132,816
|
|
|
$
|
82,668
|
|
|
Restricted Group
|
|
Newsday
LLC (a)
|
|
Other
Entities
|
|
Total
CSC Holdings
|
|
Cablevision
|
|
Eliminations (b)
|
|
Total Cablevision
|
||||||||||||||
Credit facility debt (c)
|
$
|
2,021,060
|
|
|
$
|
479,393
|
|
|
$
|
—
|
|
|
$
|
2,500,453
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,500,453
|
|
Senior notes and debentures (c)
|
3,034,301
|
|
|
—
|
|
|
—
|
|
|
3,034,301
|
|
|
3,382,551
|
|
|
(611,455
|
)
|
|
5,805,397
|
|
|||||||
Collateralized indebtedness relating to stock monetizations
|
—
|
|
|
—
|
|
|
1,191,324
|
|
|
1,191,324
|
|
|
—
|
|
|
—
|
|
|
1,191,324
|
|
|||||||
Capital lease obligations
|
40,353
|
|
|
379
|
|
|
—
|
|
|
40,732
|
|
|
|
|
|
—
|
|
|
40,732
|
|
|||||||
Notes payable
|
10,170
|
|
|
—
|
|
|
—
|
|
|
10,170
|
|
|
—
|
|
|
—
|
|
|
10,170
|
|
|||||||
Total debt
|
$
|
5,105,884
|
|
|
$
|
479,772
|
|
|
$
|
1,191,324
|
|
|
$
|
6,776,980
|
|
|
$
|
3,382,551
|
|
|
$
|
(611,455
|
)
|
|
$
|
9,548,076
|
|
Interest expense
|
$
|
72,278
|
|
|
$
|
5,060
|
|
|
$
|
16,222
|
|
|
$
|
93,560
|
|
|
$
|
67,820
|
|
|
$
|
(12,013
|
)
|
|
$
|
149,367
|
|
Capital expenditures
|
$
|
144,667
|
|
|
$
|
1,280
|
|
|
$
|
2,705
|
|
|
$
|
148,652
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
148,652
|
|
|
(a)
|
CSC Holdings has guaranteed Newsday LLC's obligation under its credit facility, which amounted to
$479,393
at
March 31, 2016
. For purposes of the Restricted Group credit facility and indentures, guarantees are treated as indebtedness. The total debt for the Restricted Group reflected in the table above does not include the
$479,393
guarantee.
|
(b)
|
Represents the elimination of the senior notes issued by Cablevision and held by Newsday Holdings.
|
(c)
|
Amounts are net of unamortized discount and deferred financing costs.
|
|
|
|
|
Interest
Rate at March 31,
2016
|
|
Amounts Payable
on or prior to
March 31,
2017
|
|
Carrying Value (b)
|
|||||||||
|
|
Maturity
Date
|
|
|
|
March 31,
2016
|
|
December 31,
2015
|
|||||||||
Restricted Group:
|
|
|
|
|
|
|
|
|
|
|
|||||||
Revolving loan facility
|
|
April 17, 2018
|
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Term A loan facility (a)
|
|
April 17, 2018
|
|
2.18
|
%
|
|
83,869
|
|
|
873,305
|
|
|
885,105
|
|
|||
Term B loan facility (a)
|
|
April 17, 2020
|
|
2.93
|
%
|
|
11,888
|
|
|
1,147,755
|
|
|
1,150,227
|
|
|||
Restricted Group credit facility debt
|
|
95,757
|
|
|
2,021,060
|
|
|
2,035,332
|
|
||||||||
Newsday:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Floating rate term loan facility (a)
|
|
October 12, 2016
|
|
3.93
|
%
|
|
479,393
|
|
|
479,393
|
|
|
479,122
|
|
|||
Total credit facility debt
|
|
$
|
575,150
|
|
|
$
|
2,500,453
|
|
|
$
|
2,514,454
|
|
|
(a)
|
The unamortized discount and deferred financing costs amounted to $10,248 and $11,200 at March 31, 2016 and December 31, 2015, respectively.
|
(b)
|
Amounts are net of unamortized deferred financing costs and discounts.
|
|
Three Months Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
Capital Expenditures
|
|
|
|
||||
Customer premise equipment
|
$
|
34,750
|
|
|
$
|
42,593
|
|
Scalable infrastructure
|
41,510
|
|
|
39,983
|
|
||
Line extensions
|
7,505
|
|
|
6,481
|
|
||
Upgrade/rebuild
|
10,594
|
|
|
12,141
|
|
||
Support
|
25,232
|
|
|
32,373
|
|
||
Total Cable
|
119,591
|
|
|
133,571
|
|
||
Lightpath
|
21,157
|
|
|
23,732
|
|
||
Other
|
7,904
|
|
|
9,328
|
|
||
Total Cablevision
|
$
|
148,652
|
|
|
$
|
166,631
|
|
•
|
Cablevision's payments in respect of dividends declared and accrued in prior periods related to restricted shares that vested;
|
•
|
Cablevision's interest payments on its senior notes; and
|
•
|
Cablevision's payments for the acquisition of treasury shares related to statutory minimum tax withholding obligations upon the vesting of certain restricted shares.
|
Fair Value of Equity Derivative Contracts
|
|
||
Fair value as of December 31, 2015, net asset position
|
$
|
79,702
|
|
Change in fair value, net
|
(48,012
|
)
|
|
Settlement of contracts
|
—
|
|
|
Fair value as of March 31, 2016, net asset position
|
$
|
31,690
|
|
# of Shares
|
|
|
|
Hedge Price
|
|
Cap Price (b)
|
||||||
Deliverable
|
|
Maturity
|
|
per Share (a)
|
|
Low
|
|
High
|
||||
8,069,934
|
(c)
|
2016
|
|
$48.93 - $53.62
|
|
$
|
58.72
|
|
|
$
|
69.70
|
|
13,407,684
|
|
2017
|
|
$55.96 - $59.11
|
|
$
|
70.84
|
|
|
$
|
76.85
|
|
|
(a)
|
Represents the price below which we are provided with downside protection and above which we retain upside appreciation. Also represents the price used in determining the cash proceeds payable to us at inception of the contracts.
|
(b)
|
Represents the price up to which we receive the benefit of stock price appreciation.
|
(c)
|
Includes an equity derivative contract relating to 2,732,184 shares that matured and was settled in April 2016 from the proceeds of a new monetization contract covering an equivalent number of shares.
|
(a)
|
Index to Exhibits.
|
EXHIBIT NO.
|
|
DESCRIPTION
|
2.1
|
|
Agreement and Plan of Merger, dated as of September 16, 2015, among Cablevision Systems Corporation, Altice N.V. and Neptune Merger Sub Corp. (incorporated herein by reference to Exhibit 2.1 to Cablevision's Current Report on Form 8-K, filed on September 17, 2015).
|
3.1
|
|
Amended and Restated Certificate of Incorporation of Cablevision Systems Corporation (incorporated herein by reference to Annex II to Cablevision's Proxy Statement, dated October 10, 2000, as supplemented).
|
3.2
|
|
Bylaws of Cablevision Systems Corporation (incorporated herein by reference to Exhibit 99.1 to Cablevision's Current Report on Form 8-K, filed on February 10, 2010).
|
3.3
|
|
Amendment dated September 16, 2015 to Bylaws of Cablevision Systems Corporation (incorporated herein by reference to Exhibit 3.1 to Cablevision's Current Report on Form 8-K, filed on September 17, 2015).
|
3.4
|
|
Certificate of Conversion of a Corporation to a Limited Liability Company of CSC Holdings, Inc. (incorporated herein by reference to Exhibit 3.1 to Cablevision's Current Report on Form 8-K, filed on November 10, 2009).
|
3.5
|
|
Certificate of Formation of CSC Holdings, LLC (incorporated herein by reference to Exhibit 3.2 to Cablevision's Current Report on Form 8-K, filed on November 10, 2009).
|
3.6
|
|
Limited Liability Company Agreement of CSC Holdings, LLC (incorporated herein by reference to Exhibit 3.3 to Cablevision's Current Report on Form 8-K, filed on November 10, 2009).
|
3.7
|
|
Amendment No. 1 to Limited Liability Company Agreement of CSC Holdings, LLC (incorporated herein by reference to Exhibit 99.2 to Cablevision's Current Report on Form 8-K, filed on February 10, 2010).
|
4.1
|
|
Indenture, dated December 1, 1997, relating to CSC Holdings, Inc. $300,000,000 7-7/8% Senior Debentures due 2018 (incorporated herein by reference to Exhibit 4.4 to Cablevision's Registration Statement on Form S-4, dated January 20, 1998, File No. 333-44547).
|
4.2
|
|
Indenture, dated July 1, 1998, relating to CSC Holdings, Inc. $500,000,000 7-5/8% Senior Debentures due 2018 (incorporated herein by reference to Exhibit 4.1 to CSC Holdings' Registration Statement on Form S-3, Registration No. 333-57407).
|
4.3
|
|
Indenture, dated February 12, 2009, relating to CSC Holdings, Inc. $526,000,000 8-5/8% Senior Notes due 2019 (incorporated herein by reference to Exhibit 4.2 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2009).
|
4.4
|
|
Indenture, dated September 23, 2009, relating to Cablevision Systems Corporation $900,000,000 8 5/8% Senior Notes due 2017 and 8 5/8% Series B Senior Notes due 2017 (incorporated herein by reference to Exhibit 99.2 to Cablevision's Current Report on Form 8-K, filed on April 2, 2010).
|
4.5
|
|
Indenture, dated April 2, 2010, relating to Cablevision Systems Corporation $750,000,000 7.75% Senior Notes due 2018 and $500,000,000 8.00% Senior Notes due 2020 (incorporated herein by reference to Exhibit 4.1 to Cablevision's Registration Statement on Form S-3, Registration No. 333-165887).
|
EXHIBIT NO.
|
|
DESCRIPTION
|
4.6
|
|
First Supplemental Indenture, dated April 15, 2010, to the Indenture dated April 2, 2010, relating to $750,000,000 7.75% Senior Notes due 2018 and $500,000,000 8.00% Senior Notes due 2020 (incorporated herein by reference to Exhibit 4.1 to Cablevision's Current Report on Form 8-K, filed on April 15, 2010).
|
4.7
|
|
Indenture, dated November 15, 2011, relating to CSC Holdings, LLC $1,000,000,000 6.75% Senior Notes due 2021 and 6.75% Series B Senior Notes due 2021 (incorporated herein by reference to Exhibit 4.1 to Cablevision's Current Report on Form 8-K, filed on November 16, 2011).
|
4.8
|
|
Second Supplemental Indenture, dated September 27, 2012, to the Indenture dated April 2, 2010, relating to Cablevision Systems Corporation $750,000,000 5.875% Senior Notes due 2022 (incorporated herein by reference to Exhibit 4.1 to Cablevision's Current Report on Form 8-K, filed on October 2, 2012).
|
4.9
|
|
Indenture, dated as of May 23, 2014, relating to CSC Holdings, LLC $750,000,000 5.25% Senior Notes due 2024 (incorporated herein by reference to Exhibit 4.1 to Cablevision's Current Report on Form 8-K, filed on May 29, 2014).
|
10.1
|
|
Form of Performance Restricted Stock Units Agreement (incorporated herein by reference to Exhibit 10.1 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2015).
|
10.2
|
|
Registration Rights Agreement, dated January 13, 2010, between Cablevision Systems Corporation and Charles F. Dolan and certain Dolan Family Affiliates (incorporated herein by reference to Exhibit 99.6 to Cablevision's Current Report on Form 8-K, filed on January 15, 2010).
|
10.3
|
|
Form of Right of First Refusal Agreement between Charles F. Dolan and CSC Holdings, Inc. (incorporated herein by reference to Exhibit 10.4 of CSC Holdings' Registration Statement on Form S-1, Registration No. 033-01936 ("CSC Holdings' Form S-1")).
|
10.4
|
|
Amendment to Time Sharing Agreements, dated November 5, 2008, between CSC Transport, Inc. and Sterling Aviation LLC (incorporated herein by reference to Exhibit 10.1 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2008).
|
10.5
|
|
Employment Agreement, dated January 27, 1986, between Charles F. Dolan and CSC Holdings, Inc. (incorporated herein by reference to Exhibit 10.9 to CSC Holdings Form S-1).
|
10.6
|
|
Amendment to Employment Agreement, dated December 18, 2008, between Cablevision Systems Corporation and Charles F. Dolan (incorporated herein by reference to Exhibit 10.6 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2008).
|
10.7
|
|
Amendment to Employment Agreement, dated June 6, 2011, between Cablevision Systems Corporation and Charles F. Dolan (incorporated herein by reference to Exhibit 99.1 to Cablevision's Current Report on Form 8-K, filed June 9, 2011).
|
10.8
|
|
Employment Agreement, dated December 24, 2009, between Cablevision Systems Corporation and James L. Dolan (incorporated herein by reference to Exhibit 99.1 to Cablevision's Current Report on Form 8-K, filed on December 24, 2009).
|
10.9
|
|
Amendment dated February 27, 2013 to Employment Agreement, dated December 24, 2009, between Cablevision Systems Corporation and James L. Dolan. (incorporated herein by reference to Exhibit 10.9 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2012).
|
10.10
|
|
Amendment dated April 7, 2014 to Employment Agreement, dated December 24, 2009, between Cablevision Systems Corporation and James L. Dolan (incorporated herein by reference to Exhibit 10.1 to Cablevision's Current Report on Form 8-K, filed on April 11, 2014).
|
10.11
|
|
Employment Agreement, dated December 21, 2009, between Cablevision Systems Corporation and Hank J. Ratner (incorporated herein by reference to Exhibit 99.4 to Cablevision's Current Report on Form 8-K, filed on December 24, 2009).
|
10.12
|
|
Letter Agreement, dated February 25, 2015, between Cablevision Systems Corporation and Gregg G. Seibert(incorporated herein by reference to Exhibit 10.12 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2014).
|
10.13
|
|
Employment Agreement, dated February 1, 2012, between Cablevision Systems Corporation and David G. Ellen (incorporated herein by reference to Exhibit 10.11 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2011).
|
10.14
|
|
Amendment dated April 7, 2014 to Employment Agreement, dated February 1, 2012, between Cablevision Systems Corporation and David G. Ellen (incorporated herein by reference to Exhibit 10.4 to Cablevision's Current Report on Form 8-K, filed on April 11, 2014).
|
10.15
|
|
Employment Agreement, dated April 7, 2014, between Cablevision Systems Corporation and Brian G. Sweeney (incorporated herein by reference to Exhibit 10.2 to Cablevision's Current Report on Form 8-K, filed on April 11, 2014).
|
EXHIBIT NO.
|
|
DESCRIPTION
|
10.16
|
|
Amendment dated February 25, 2015, to Employment Agreement dated April 7, 2014, between Cablevision Systems Corporation and Brian G. Sweeney (incorporated herein by reference to Exhibit 10.16 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2014).
|
10.17
|
|
Employment Agreement, dated April 7, 2014, between Cablevision Systems Corporation and Kristin A. Dolan (incorporated herein by reference to Exhibit 10.3 to Cablevision's Current Report on Form 8-K, filed on April 11, 2014).
|
10.18
|
|
Supplemental Benefit Plan of CSC Holdings, Inc. (incorporated herein by reference to Exhibit 10.7 to CSC Holdings' Form S-1).
|
10.19
|
|
Cablevision Systems Corporation Employee Stock Plan (incorporated herein by reference to Exhibit A to Cablevision's June 3, 2003 Proxy Statement).
|
10.20
|
|
Cablevision Systems Corporation 2006 Employee Stock Plan (incorporated herein by reference to Exhibit A to Cablevision's May 18, 2006 Proxy Statement).
|
10.21
|
|
Cablevision Systems Corporation Amended and Restated 2006 Employee Stock Plan (incorporated herein by reference to Exhibit A to Cablevision's May 22, 2014 Proxy Statement).
|
10.22
|
|
Cablevision Systems Corporation 2015 Employee Stock Plan (incorporated herein by reference to Exhibit A to Cablevision's May 21, 2015 Proxy Statement).
|
10.23
|
|
Cablevision Systems Corporation Executive Performance Incentive Plan (incorporated herein by reference to Exhibit 10.24 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2005).
|
10.24
|
|
Cablevision Systems Corporation Long-Term Incentive Plan (incorporated herein by reference to Exhibit B to Cablevision's June 3, 2003 Proxy Statement).
|
10.25
|
|
Cablevision Systems Corporation 2011 Cash Incentive Plan (incorporated herein by reference to Exhibit A to Cablevision's April 21, 2011 Proxy Statement).
|
10.26
|
|
Cablevision Systems Corporation Amended and Restated Stock Plan for Non-Employee Directors (incorporated herein by reference to Exhibit D to Cablevision's June 3, 2003 Proxy Statement).
|
10.27
|
|
Cablevision Systems Corporation 2006 Stock Plan for Non-Employee Directors (incorporated herein by reference to Exhibit C to Cablevision's May 18, 2006 Proxy Statement).
|
10.28
|
|
Cablevision CHOICE Severance Pay Plan (incorporated herein by reference to Exhibit 10.49 to Cablevision's Annual Report on Form 10-K for fiscal year ended December 31, 2003).
|
10.29
|
|
Lease Agreement between Nassau Cable Business Trust, as Landlord and CSC Holdings, Inc., as Tenant, dated November 1, 1997 (incorporated herein by reference to Exhibit 10.56 to Cablevision's Registration Statement on Form S-4, dated January 20, 1998, File No. 333-44547).
|
10.30
|
|
Credit Agreement, dated as of April 17, 2013 among CSC Holdings, LLC, as the Company, certain subsidiaries of the company, as Restricted Subsidiaries, the lenders party thereto, Bank of America, N.A., as Administrative Agent, Collateral Agent and L/C Issuer, Bank of America, N.A., J. P. Morgan Securities LLC, The Bank of Nova Scotia, Barclays Bank Plc, Credit Agricole Corporate and Investment Bank, Citigroup Global Markets Inc., BNP Paribas Securities Corp. and Royal Bank of Canada, as Joint Lead Arrangers and Joint Bookrunners, The Royal Bank Of Scotland PLC, Suntrust Robinson Humphrey, Inc., U.S. Bank National Association, Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, TD Securities and Natixis Securities Americas LLC, as Joint Bookrunners, J. P. Morgan Chase Bank, National Association, The Bank of Nova Scotia, Barclays Bank PLC, Credit Agricole Corporate and Investment Bank, and Citicorp North America Inc., as Co-Syndication Agents, BNP Paribas, Royal Bank of Canada, The Royal Bank of Scotland PLC, Suntrust Bank, and U.S. Bank National Association, As Co-Documentation Agents (incorporated herein by reference to Exhibit 10.1 to Cablevision's Current Report on Form 8-K, filed April 23, 2013).
|
10.31
|
|
Pledge Agreement, dated April 17, 2013, among CSC Holdings, LLC, certain subsidiaries of CSC Holdings, LLC as Pledgors and Bank of America, N.A., as Secured Party (incorporated herein by reference to Exhibit 10.2 to Cablevision's Current Report on Form 8-K, filed April 23, 2013).
|
EXHIBIT NO.
|
|
DESCRIPTION
|
10.32
|
|
Credit Agreement, dated as of October 12, 2012, among Newsday LLC, CSC Holdings, LLC, the lenders party thereto from time to time, Barclays Bank PLC, as administrative agent and collateral agent, Barclays Bank PLC as lead arranger, BNP Paribas Securities Corp., Credit Agricole Corporate and Investment Bank, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, J.P. Morgan Securities Americas LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Natixis Securities Americas LLC, Nomura Securities International, Inc., UBS Securities LLC and U.S. Bank National Association, as joint bookrunners, co-documentation agents and co-syndication agents, RBC Capital Markets and SunTrust Robinson Humphrey, Inc. as joint bookrunners, and Royal Bank of Canada and SunTrust Bank, as co-documentation agents and co-syndication agents (incorporated herein by reference to Exhibit 10.1 to Cablevision's Current Report on Form 8-K, filed October 16, 2012).
|
10.33
|
|
Form of Nonqualified Stock Option Agreement (February 16, 2005) (incorporated herein by reference to Exhibit 10.1 to Cablevision's Current Report on Form 8-K, filed February 16, 2005).
|
10.34
|
|
Form of Deferred Compensation Agreement (February 16, 2005) (incorporated herein by reference to Exhibit 10.5 to Cablevision's Current Report on Form 8-K, filed February 16, 2005).
|
10.35
|
|
Form of Nonqualified Stock Option Agreement (November 7, 2005) (incorporated herein by reference to Exhibit 10.1 to Cablevision's Current Report on Form 8-K, filed November 7, 2005).
|
10.36
|
|
Form of Nonqualified Stock Option Agreement (Vesting Subject to Performance Metric) (November 7, 2005) (incorporated herein by reference to Exhibit 10.2 to Cablevision's Current Report on Form 8-K, filed November 7, 2005).
|
10.37
|
|
Form of Nonqualified Stock Option Agreement (March 7, 2013) (incorporated herein by reference to Exhibit 99.1 to Cablevision's Current Report on Form 8-K, filed March 12, 2013).
|
10.38
|
|
Form of Options Agreement (incorporated herein by reference to Exhibit 99.2 to Cablevision's Current Report on Form 8-K, filed March 11, 2009).
|
10.39
|
|
Form of Restricted Shares Agreement (incorporated herein by reference to Exhibit 99.1 to Cablevision's Current Report on Form 8-K, filed March 11, 2009).
|
10.40
|
|
Form of Restricted Shares Agreement (March 7, 2013) (incorporated herein by reference to Exhibit 99.2 to Cablevision's Current Report on Form 8-K, filed March 12, 2013).
|
10.41
|
|
Form of Performance Award Agreement (incorporated herein by reference to Exhibit 99.3 to Cablevision's Current Report on Form 8-K, filed March 11, 2009).
|
10.42
|
|
Form of Nonqualified Stock Option Agreement (June 5, 2006) (incorporated herein by reference to Exhibit 10.1 to Cablevision's Current Report on Form 8-K, filed June 7, 2006).
|
10.43
|
|
Form of Restricted Shares Agreement (June 5, 2006) (incorporated herein by reference to Exhibit 10.2 to Cablevision's Current Report on Form 8-K, filed June 7, 2006).
|
10.44
|
|
Form of Stock Option and Restricted Stock Unit Agreement for Non-Employee Directors (June 5, 2006) (incorporated herein by reference to Exhibit 10.3 to Cablevision's Current Report on Form 8-K, filed June 7, 2006).
|
10.45
|
|
Summary of the Cablevision CHOICE Excess Savings Plan (incorporated herein by reference to Exhibit 10.72 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2006).
|
10.46
|
|
Summary of the Cablevision CHOICE Excess Cash Balance Plan (incorporated herein by reference to Exhibit 10.73 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2006).
|
10.47
|
|
Time Sharing Agreement, dated November 22, 2006, between CSC Transport IV, Inc. and Charles F. Dolan (incorporated herein by reference to Exhibit 10.1 to Cablevision's Current Report on Form 8-K, filed November 29, 2006).
|
10.48
|
|
Amendment dated June 30, 2014 to Time Sharing Agreement, dated November 22, 2006, between CSC Holdings, LLC (as successor-in-interest to CSC Transport IV, Inc.) and Charles F. Dolan (incorporated herein by reference to Exhibit 10.1 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2014).
|
10.49
|
|
Time Sharing Agreement, dated November 22, 2006, between CSC Transport V, Inc. and Charles F. Dolan (incorporated herein by reference to Exhibit 10.2 to Cablevision's Current Report on Form 8-K, filed November 29, 2006).
|
10.50
|
|
Amendment dated August 3, 2012 to Time Sharing Agreement, dated November 22, 2006, between CSC Transport IV, Inc. and Charles F. Dolan (incorporated herein by reference to Exhibit 10.3 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2012).
|
EXHIBIT NO.
|
|
DESCRIPTION
|
10.51
|
|
Amendment dated July 24, 2014 to Time Sharing Agreement, dated November 22, 2006, between CSC Holdings, LLC (as successor-in-interest to CSC Transport IV, Inc.) and James L. Dolan (incorporated herein by reference to Exhibit 10.2 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2014).
|
10.52
|
|
Time Sharing Agreement, dated November 22, 2006, between CSC Transport IV, Inc. and James L. Dolan (incorporated herein by reference to Exhibit 10.3 to Cablevision's Current Report on Form 8-K, filed November 29, 2006).
|
10.53
|
|
Amendment dated August 3, 2012 to Time Sharing Agreement, dated November 22, 2006, between CSC Transport IV, Inc. and James L. Dolan (incorporated herein by reference to Exhibit 10.2 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2012).
|
10.54
|
|
Time Sharing Agreement, dated November 22, 2006, between CSC Transport V, Inc. and James L. Dolan (incorporated herein by reference to Exhibit 10.4 to Cablevision's Current Report on Form 8-K, filed November 29, 2006).
|
10.55
|
|
Time Sharing Agreement, dated June 19, 2007, between CSC Transport IV, Inc. and Hank J. Ratner (incorporated herein by reference to Exhibit 10.1 to Cablevision's Current Report on Form 8-K, filed June 22, 2007).
|
10.56
|
|
Time Sharing Agreement, dated June 19, 2007, between CSC Transport V, Inc. and Hank J. Ratner (incorporated herein by reference to Exhibit 10.2 to Cablevision's Current Report on Form 8-K, filed June 22, 2007).
|
10.57
|
|
Amendment dated July 2, 2014 to Time Sharing Agreement, dated February 1, 2012, between CSC Holdings, LLC (as successor-in-interest to CSC Transport IV, Inc.) and David G. Ellen (incorporated herein by reference to Exhibit 10.6 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2014).
|
10.58
|
|
Time Sharing Agreement, dated February 1, 2012, between CSC Transport IV, Inc. and David G. Ellen (incorporated herein by reference to Exhibit 10.59 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2011).
|
10.59
|
|
Amendment dated June 30, 2014 to Time Sharing Agreement, dated March 29, 2011, between CSC Holdings, LLC (as successor-in-interest to CSC Transport IV, Inc.) and Gregg G. Seibert (incorporated herein by reference to Exhibit 10.3 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2014).
|
10.60
|
|
Time Sharing Agreement, dated March 29, 2011, between CSC Transport IV, Inc. and Gregg G. Seibert (incorporated herein by reference to Exhibit 10.2 to Cablevision's Current Report on Form 8-K, filed March 31, 2011).
|
10.61
|
|
Amendment dated June 30, 2014 to Time Sharing Agreement, dated April 7, 2014, between CSC Holdings, LLC and Brian G. Sweeney (incorporated herein by reference to Exhibit 10.4 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2014).
|
10.62
|
|
Time Sharing Agreement, dated April 7, 2014, between CSC Holdings, LLC and Brian G. Sweeney (incorporated herein by reference to Exhibit 10.5 to Cablevision's Current Report on Form 8-K, filed April 11, 2014).
|
10.63
|
|
Amendment dated June 30, 2014 to Time Sharing Agreement, dated April 7, 2014, between CSC Holdings, LLC and Kristin A. Dolan (incorporated herein by reference to Exhibit 10.5 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2014).
|
10.64
|
|
Time Sharing Agreement, dated April 7, 2014, between CSC Holdings, LLC and Kristin A. Dolan (incorporated herein by reference to Exhibit 10.6 to Cablevision's Current Report on Form 8-K, filed April 11, 2014).
|
10.65
|
|
Aircraft Support Services Agreement, dated January 1, 2013, by and between CSC Transport, Inc., Dolan Family Office, LLC and Charles F. Dolan. (incorporated herein by reference to Exhibit 10.62 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2012).
|
10.66
|
|
Aircraft Management Agreement, dated August 4, 2011, by and between CSC Transport, Inc., New York Aircam Corp. and Patrick F. Dolan (incorporated herein by reference to Exhibit 10.1 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011).
|
10.67
|
|
Extension Agreement, dated January 1, 2013, to the Aircraft Management Agreement, dated August 4, 2011, by and between CSC Transport, Inc., New York Aircam Corp., Charles F. Dolan and Patrick F. Dolan. (incorporated herein by reference to Exhibit 10.64 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2012).
|
EXHIBIT NO.
|
|
DESCRIPTION
|
10.68
|
|
Aircraft Dry Lease Agreement, dated February 16, 2011, by and between Sterling Aviation LLC and CSC Transport, Inc. (incorporated herein by reference to Exhibit 10.68 to Cablevision's Current Report on Form 8-K, filed February 16, 2011).
|
10.69
|
|
Amendment, dated June 30, 2014 to Aircraft Dry Lease Agreement, dated February 16, 2011, by and between Sterling Aviation LLC and CSC Holdings, LLC (as successor-in-interest to CSC Transport, Inc.) (incorporated herein by reference to Exhibit 10.7 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2014).
|
10.70
|
|
Aircraft Dry Lease Agreement, dated November 14, 2012, by and between Brighid Air, LLC and CSC Transport, Inc. (incorporated herein by reference to Exhibit 10.66 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2012).
|
10.71
|
|
Aircraft Support Services Agreement, dated January 1, 2013, by and between CSC Transport, Inc., Brighid Air, LLC, Patrick F. Dolan and Charles F. Dolan. (incorporated herein by reference to Exhibit 10.67 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2012).
|
10.72
|
|
Formation Agreement, dated May 11, 2008, among CSC Holdings, Inc., NMG Holdings, Inc., Tribune Company and Newsday, Inc. (incorporated herein by reference to Exhibit 99.1 to Cablevision's Current Report on Form 8-K, filed May 14, 2008).
|
10.73
|
|
Form of Tax Matters Agreement between CSC Holdings, Inc. and Tribune Company (incorporated herein by reference to Exhibit 99.2 to Cablevision's Current Report on Form 8-K, filed May 14, 2008).
|
10.74
|
|
Form of Limited Liability Agreement of Newsday LLC (incorporated herein by reference to Exhibit 99.3 to Cablevision's Current Report on Form 8-K, filed May 14, 2008).
|
10.75
|
|
Distribution Agreement, dated January 12, 2010, by and between Cablevision Systems Corporation, and Madison Square Garden, Inc. (incorporated herein by reference to Exhibit 99.1 to Cablevision's Current Report on Form 8-K, filed January 15, 2010).
|
10.76
|
|
Employee Matters Agreement, January 12, 2010, by and between Cablevision Systems Corporation and Madison Square Garden, Inc. (incorporated herein by reference to Exhibit 99.4 to Cablevision's Current Report on Form 8-K, filed January 15, 2010).
|
10.77
|
|
Distribution Agreement, dated June 6, 2011, between Cablevision Systems Corporation and AMC Networks Inc. (incorporated herein by reference to Exhibit 99.2 to Cablevision's Current Report on Form 8-K, filed June 9, 2011).
|
10.78
|
|
Contribution Agreement, dated June 6, 2011, among Cablevision Systems Corporation, CSC Holdings, LLC and AMC Networks Inc. (incorporated herein by reference to Exhibit 99.3 to Cablevision's Current Report on Form 8-K, filed June 9, 2011).
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10.79
|
|
Tax Disaffiliation Agreement, dated June 6, 2011, between Cablevision Systems Corporation and AMC Networks Inc. (incorporated herein by reference to Exhibit 99.5 to Cablevision's Current Report on Form 8-K, filed June 9, 2011).
|
10.80
|
|
Form of Employee Matters Agreement between Cablevision Systems Corporation and AMC Networks Inc. (incorporated herein by reference to Exhibit 99.6 to Cablevision's Current Report on Form 8-K, filed June 9, 2011).
|
10.81
|
|
Cablevision Systems Corporation Related Party Transaction Approval Policy (incorporated herein by reference to Exhibit 99.1 to Cablevision's Current Report on Form 8-K, filed July 1, 2011).
|
10.82
|
|
Cablevision Systems Corporation Policy Concerning Certain Matters Relating to The Madison Square Garden Company and AMC Networks Inc., Including Responsibilities of Overlapping Directors and Officers (incorporated herein by reference to Exhibit 99.1 to Cablevision's Current Report on Form 8-K, filed July 1, 2011).
|
10.83
|
|
Letter Agreement, dated June 6, 2011, between CSC Holdings, LLC and AMC Networks Inc. regarding VOOM Litigation (incorporated herein by reference to Exhibit 10.3 to Cablevision's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011).
|
10.84
|
|
Summary of office space arrangement for Marianne Dolan Weber between Cablevision Systems Corporation and Knickerbocker Group LLC (incorporated herein by reference to Exhibit 10.1 to Cablevision's Quarterly Report on Form 10-Q for the fiscal Quarter ended June 30, 2012).
|
10.85
|
|
Purchase Agreement, dated February 7, 2013, between CSC Holdings, LLC and Charter Communications Operating, LLC. (incorporated herein by reference to Exhibit 10.84 to Cablevision's Annual Report on Form 10-K for the fiscal year ended December 31, 2012).
|
10.86
|
|
Confidential Settlement Agreement dated February 8, 2016 by and between Cablevision Systems Corporation and Thomas C. Dolan.
|
10.87
|
|
Reimbursement Agreement, dated February 8, 2016, by and between Cablevision Systems Corporation and Charles F. Dolan and James L. Dolan.
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EXHIBIT NO.
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DESCRIPTION
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31.1
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Section 302 Certification of the CEO.
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31.2
|
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Section 302 Certification of the CFO.
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32
|
|
Section 906 Certifications of the CEO and CFO.
|
101
|
|
The following financial statements from Cablevision Systems Corporation's and CSC Holdings, LLC's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2016, filed with the Securities and Exchange Commission on May 5, 2016, formatted in XBRL (eXtensible Business Reporting Language): (i) the Condensed Consolidated Balance Sheets; (ii) the Condensed Consolidated Statements of Income; (iii) the Condensed Consolidated Statements of Comprehensive Income; (iv) the Condensed Consolidated Statements of Cash Flows; and (v) the Combined Notes to Condensed Consolidated Financial Statements.
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CABLEVISION SYSTEMS CORPORATION
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CSC HOLDINGS, LLC
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Date:
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May 5, 2016
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/s/ Brian G. Sweeney
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|
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By:
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Brian G. Sweeney as President and Chief Financial Officer of Cablevision Systems Corporation and CSC Holdings, LLC
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